Alstom of France, a global leader in the power generation equipment and services business, is believed to be the front-runner for buying out Areva’s power transmission and distribution division, according to reliable power industry sources.
Alstom had sold its transmission and distribution business to Areva in 2004 for about € 1 billion when it was in financial trouble.
The release said that it would invite bids for the T&D business and would pay special attention to the price offered, the industrial and labour projects. “Depending on the interest generated, the decision to dispose of T&D or not and the choice of a potential buyer will be taken before the end of the year,” it said.
(source:BL)
Germany-based engineering behemoth Siemens AG has offered to buy out French company Areva AG's transmission and distribution (T&D) division.According to media reports, Joe Kaesar, chief financial officer of Siemens, told reporters in Frankfurt that the company would like to buy out Areva T&D in case the French company approached it. "We would look at it: they know where to find us."
Areva AG has a fully owned subsidiary in India - Areva T&D India. It is expected that in case the deal goes through, the Indian subsidiary will also become a part of Siemens.
"While Siemens is a long-established player in India vis-a-vis Areva, we believe an addition of Areva's portfolio would make it a dominant player far ahead of ABB and Crompton Greaves."
It would also provide newer manufacturing plants to Siemens and improve profitability for the company, the analysts said.
(source:DNA)
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